Help Protect Your Paycheck: Disability Income Insurance
Learn how you can protect your most valuable asset.
You insure your home, your car, your cell phone, maybe even your pet. Why? Because they matter. If something unfortunate were to happen to any of these valuables, you’d want to be able to replace what you lost.
What about your paycheck? Do you have insurance for that? In the order of priorities, a paycheck is pretty important. Without that income, you might not even have those other valuables. What if you got sick or so badly hurt that you had to stop working—and your paychecks stopped coming for a few weeks, months or even years?
It may seem like a long shot, but disabling illnesses and injuries do happen—more often than you might think. Disability isn’t a one-in-a-million chance. It’s one in four. What causes people to miss work? For some, it’s a condition like chronic back pain, migraine headaches or depression. For others, it’s an extended illness like diabetes or cancer. For still others, it’s a sudden event like a car accident or heart attack.
Situations like these are unexpected and unwelcome and can drain your savings. And they can happen to anyone. When a disability interrupts your work—and your paychecks—it can be hard to meet current living expenses … much less pay down debts or set aside money for the future. That’s why it’s important to help protect your paycheck … and that’s what disability income insurance is for.
When you purchase disability income insurance and a disability prevents you from working, the coverage can replace a portion of your income and help protect your lifestyle. Maybe you have disability coverage through your employer. But do you know how much? Most workplace-sponsored plans are a good start but have limits—and provide only a fraction of the income needed. And what if your employer doesn’t offer disability coverage? Or you’re self-employed? In all of these cases, individual disability income insurance can help provide the income you need.
Think you can’t afford it? Think again. The cost is often less than what you pay daily for a cup of coffee.1 Plus, when you purchase your own policy, you’ll have disability coverage wherever you go—even if you change jobs or strike out on your own—because wherever you work and as long as you work, your paycheck is worth protecting.
When you choose a company for disability coverage, be sure you turn to one that has been awarded the highest financial strength ratings of any insurer … one that will be there when you need it most.
1Typical individual disability income insurance costs males $25.77/month and females $35.19/month. Typical coffee costs $72.52/month.
Eligibility for disability income insurance, additional policy benefits and qualification for benefits is determined on a case-by-case basis.